Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

HK Type 4 license through Ballingal Investment Advisors Ltd. ("BIA" or "BIAL")

BACKGROUND
I have 20+yrs experience in Asia doing alternative strategies (i.e. non-delta1 non long-only) in fixed income, equity derivatives, and activist/catalyst/event-driven and long-short equity strategies with most of that time spent managing money. 

4 years in fixed income macro, 8 years running internal hedge fund and 4yrs investment banking at Citi in Japan, 3 years running an Asia multi-strat portfolio at a hedge fund, 4+yrs as an independent special situations analyst.

Pan-Asia Catalysts/Events

Softbank Group Shock Settlement of Forward Alibaba Contracts Is Worrisome

Softbank (9984 JP) – This Time, It’s Chime

Softbank Group - Q1 22 Results Reaction: So Many Surprises…a Few Were Positive

Softbank Buyback - $9 Biiiilllyun Dollars

A Bull Investment Case for TSMC (Summary Version)

Quiddity Advisors

Event-Driven

<ul>
<li>Softbank today <a href="https://group.softbank/en/news/press/20220810" target="_blank" rel="noopener">confirmed</a> that the stories circulating about Softbank having hedged a decent portion - 200+mm shares - of its BABA position were true. </li>
<li>The market expectation had been that these pre-paid forwards would be held for another two years. The announcement today is that they will be physically settled early. </li>
<li>This means the entire accounting effect - worth ¥4.6trln - will hit the income statement (and balance sheet) in the current quarter. There are investment and index implications</li>
</ul>


Softbank today confirmed that the stories circulating about Softbank having hedged a decent portion - 200+mm shares - of its BABA position were true. 
The market expectation had been that these pre-paid forwards would be held for another two years. The announcement today is that they will be physically settled early. 
This means the entire accounting effect - worth ¥4.6trln - will hit the income statement (and balance sheet) in the current quarter. There are investment and index implications


Softbank Confirms BABA Selldown - Big Changes on Softie's Balance Sheet and BABA Index Implications